An Evaluation of Alternative Estimation Techniques and Functional Forms in Developing Statistical Appraisal Models

Kang, Han Bin; Reichert, Alan K.

doi:10.1080/10835547.1987.12090523

Cited by 18 publications

(2 citation statements)

References 15 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…However, there is no consensus about the specific explicit form the hedonic price function might take (see Ekeland et al, 2004 andLisi, 2013). For instance, Kang and Reichert (1987) emphasize the non-existence of a unique functional form or estimation technique which is superior in every aspect in the context of hedonic models for real market appraisals.…”

Section: Econometric and Statistical Methodsmentioning

confidence: 99%

Rent Imputation for Welfare Measurement: A Review of Methodologies and Empirical Findings

Balcázar¹,

Ceriani²,

Olivieri³

et al. 2014

Policy Research Working Papers

View full text Add to dashboard Cite

The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

show abstract

Section: Econometric and Statistical Methodsmentioning

confidence: 99%

Rent Imputation for Welfare Measurement: A Review of Methodologies and Empirical Findings

Balcázar¹,

Ceriani²,

Olivieri³

et al. 2014

Policy Research Working Papers

View full text Add to dashboard Cite

show abstract

“…As with the Kendree and Rauch (1990) study, the data are limited to vacant, developed lots to control for variability in home design and appeal. The study employs a composite double-log/semi-log model (Kang and Reichert, 1987) to test the hypothesis that lot size and view exhibit diminishing marginal price effects. The test statistics are highly significant and support the research hypothesis of diminishing marginal utility of lot size and view.…”

mentioning

confidence: 99%

Empirical study of the relationship between residential lot price, size and view

Wolverton

1997

Journal of Property Valuation and Investment

View full text Add to dashboard Cite

Real estate researchers have suggested that the law of diminishing marginal utility applies not only to consumption of property but to the characteristics of the properties consumed as well. Employs a unique data set to empirically model the functional form of the price effects of marginal additions to lot size and view. Shows that the relationships between lot price, size and view are non‐linear, and that marginal price effects diminish as lot size and view quality increase. The results imply that traditional valuation models allow only for the existence of view, rather than the quality of view, and are too simplistic and imprecise. Appraisers should be cognizant of this implication, and devise valuation techniques which allow them to consider differences in the quality of view from property to property.

show abstract

Hedonic Modeling in Real Estate Appraisal: The Case of Environmental Damages Assessment

Reichert

2002

Real Estate Valuation Theory

View full text Add to dashboard Cite

An Evaluation of Alternative Estimation Techniques and Functional Forms in Developing Statistical Appraisal Models

Cited by 18 publications

References 15 publications

Rent Imputation for Welfare Measurement: A Review of Methodologies and Empirical Findings

Rent Imputation for Welfare Measurement: A Review of Methodologies and Empirical Findings

Empirical study of the relationship between residential lot price, size and view

Hedonic Modeling in Real Estate Appraisal: The Case of Environmental Damages Assessment

Contact Info

Product

Resources

About